Cute. Actually I have a degree,
yea, big deal, so do i (in econs). what's your degree in, misplaced pompousness? 8(
t is amusing that you would ascribe a particular political slant to mainstream economics: I wasn't aware that the entire discipline was inherently 'conservative'
no problem. i am glad to inform you that the era when pure neoclassical theory reigned supreme and was regarded as "mainstream" is over since a few decades. pointing out the existence of market failure is not to "ascribe a particular politial slant to mainstream economics" - denying it is.
Most forms of market failure assert that a model has failed in theory when in fact it has only failed in practice, or assert that a failure to fulfil some ideological, non-economic condition represents a failure.
a model that fails in practice has only limited value. what is a beautiful theoretical model worth if it does not hold up in the real world? very little. theory is tested against reality, not the other way around.
and what do you mean by "most forms of market failure assert"? market failures assert nothing. they just are. i assume what you are trying to say is "most economists asserting the existence of market failures etc.". but you are wrong. market failure is widely recognised in mainstream economics and every basic undergraduate course will teach you that pure competition and individual utility maximisation leads to sub-optimal outcomes in "pure economic" terms of efficiency and utility maximisation in a number of very important cases (see public good theory for example). this can be shown theoretically and is observed in practice.
that Utopian ideal of co-operation never eventuates while there exists self-interested individuals or the potential for self-interested individuals within a population.
what are you talking about? i am not speaking of utopian ideals requiring perfect cooperation in every respect. every public road built is a (rough) example of what i mean. an individual living at the side of the road may not contribute voluntarily to its cost if he was strictly maximising his individual utility, for instance because he would try to let the others pay for it and then use it for free. if everyone did this, no money would be raised, no road built and everyone is worse off. strict individual utility maximisation then leads to a suboptimal outcome. taxation solves this problem by forcing everyone to pay, or to formulate positively: to assure everyone that everyone else also pays, which allows the road to be built and makes everyone better off.
thus the argument that a less intelligent society may not recognise this and continue to live without road, whereas a society composed of smarter individuals does recognise it, organises itself at least partly cooperatively through a state, introduces taxation, builds the road and increases the utility of everyone.
Why would it? Economic theory and models show us in theory, to be then confirmed in studies of the natural world, that it is the forces of selfish behaviour and competition which yield optimal outcomes.
have you even read what i wrote? i was agreeing with you in general, but (earlier) leaving the possibility of some increased cooperation for the achievement of joint optimal outcomes open. it's not the 1970s anymore, read some modern econs book already.